Intraday call performance 21/02/08

Market recovered first and as expected faced selling from higher levels exactly near my ressitance 5260 as it made a high of 5241 and came down crashing to test yesterday's low, but never broke that.Nifty atlast closed at 5192.Now that budget factor and also expiry factors will come into effect and stock trading will be more interesting with this much volatility

Stock watch for the day:

Bajaj Hindustan:This was given a sell call below 280 for target 268 and stock made 267 and then bounced back to 278 level

Following calls were given in yahoo messenger for clients:

IT WAS AN EXCELLENT PROFIT DAY FOR ALL MY CLIENTS

Short Nifty Futures around 5220 with stop 5236 and Nifty Futures made 5145 and told to exit

Buy Nifty Futures around 5075 with stop 5060 and Nifty Futures made 5150 and told to come out

Short Bajaj Hindutsan around 277 with stop 280.5 small stop loss and the stock made 266

Short Neyveli Lignite at 159 with stop 162 and the stock made 152.75

Short RNRL at 136 with stop 137.5 and the stock made 129

Short MARUTI around 778 with stop 784 and the stock made 754

Buy Bajaj Hindustan around 270 with stop 267.5...small stop loss and the stock made 277

Market Outlook 21/02/08

After being in negative zone yesterday nifty is expected to recover today along with positive asian markets.Yesterday FII's were net sellers with 266 crores.Today R-Group stocks has to be watched and recovery in them may pull up nifty also and if nifty moves above 5185, it will test 5220 strong resistance and if croses then again move towards 5260 first and then all round buying again.But, if nifty remains below 5175 it remains week and may test 5120 again and if breaks downside strong support exists at 5070.If opens week, lower level buying can come at supports.At higher levels, again selling will come today and only if opens too much gap up then only its complete pull back or else higher level selling will continue.

Stock watch for the day:

Bajaj Hindustan (270):Watch this stock at higher levels and if fails to cross 280, short it for tragets 268-262